After Australian-listed Slater & Gordon demonstrated the benefits of greater access to capital by using a share offer to part fund its £637m Quindell acquisition, Gateley has confirmed it is set to gain the same advantages by floating on the London Stock Exchange’s AIM listing this year.
Continue reading “Taking the plunge: Gateley set to be UK’s first firm to float”
The partnership at Clifford Chance (CC) has voted through proposed changes to its remuneration system which will see the firm deploy a more flexible lockstep by stretching the top of the ladder in a bid to retain star partners.
Clifford Chance has started a review of its remuneration system at management level, a move which could see the firm deploy a more flexible lockstep to retain star partners.
Continue reading “Early stages: Clifford Chance kicks off lockstep review”
Alternative business structure (ABS) Quindell, which posted a substantial increase in revenues in its legal services division this summer, has brought in PwC to carry out an independent review on the company’s accounting policies.
Parabis Group has secured a further £13m investment from private equity company Duke Street Capital with the aim to improve IT systems, property and staff.
Continue reading “Investing in law: Parabis secures £13m from Duke Street to fund upgrades”
As fellow Magic Circle firm Freshfields Bruckhaus Deringer targets the US market, Clifford Chance’s US leadership is seeking to upscale its offering in the Americas, and are actively looking to recruit fresh talent across all levels, from associate to partner. But, such growth, explains Americas managing partner Evan Cohen and Washington DC managing partner David DiBari, will be achieved without breaking away from the firm’s traditional remuneration system.
Keystone Law has turned to boutique private equity house Root Capital to fund its growth plans, raising £3.15m in return for a 35% stake in its business.
As the fallout from the demise of Dewey & LeBoeuf continues, liquidators of the UK arm are assessing paying an interim dividend to unsecured creditors of the City office having finished disbursements to secured and preferential creditors. Continue reading “Dewey liquidators confirm payout while Cobbetts’ payments are postponed”
Kennedys has become the latest UK firm to call on its fixed-share partners (FSPs) to make a 30% capital contribution in light of HM Revenue & Customs’ (HMRC’s) decision to overhaul the way salaried partners are taxed, giving the firm some ‘headroom.’ Continue reading “HMRC LLP rule change – Kennedys calls on fixed-share partners for 30% capital injection”
Fixed-share partners to make capital contributions of 25% of profit share
Eversheds started talks in April over the voting rights of its fixed-share partners (FSPs) after they were asked to contribute 25% of their annual earnings in response to HM Revenue & Customs (HMRC) tax changes for limited liability partnerships (LLPs).
The firm called on its 164 junior partners to make the contributions to avoid being deemed employees, which would require Eversheds to pay national insurance contributions for them.
Continue reading “Eversheds in talks to extend voting rights as 164 junior partners inject cash”
